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Quantitative practice

Simple Interest Questions with Answers

Interest that accrues only on the principal, and the rate, time and principal problems built from it. This page pools every simple interest question on the site (142 of them, from 58 exams, weighted towards Management, Banking, SSC) so you can drill the topic on its own instead of meeting four of them inside a full paper.

4% of the pool is graded hard on this site’s own scale and 34% easy, which is gentler than the average topic in this section.

Questions
142
Practice set
25 in 25 min
Difficulty
48/89/5
Negative marking
None
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Simple Interest questions with solutions

6 from the 142-question pool, worked in full.

  1. 1. What simple interest is earned on ₹8,000 at 7.5% per year for 2 years?

    • A. ₹900
    • B. ₹1,050
    • C. ₹1,200 ✓
    • D. ₹1,500

    Solution. SI=PRT/100=8000×7.5×2/100=1200.

  2. 2. A sum of money doubles itself in 10 years at simple interest. In how many years will it become triple?

    • A. 18 years
    • B. 22 years
    • C. 24 years
    • D. 20 years ✓

    Solution. If the sum doubles in 10 years, the SI earned equals the principal in 10 years, so the rate = 100/10 = 10% per annum. To triple, SI needed = 2× principal, so time = 2 × 10 = 20 years.

  3. 3. Find the simple interest on ₹24,000 at 8.5% per annum for 3 years.

    • A. ₹5900
    • B. ₹6000
    • C. ₹6100
    • D. ₹6120 ✓

    Solution. SI = (P × R × T) / 100 = (24000 × 8.5 × 3) / 100 = ₹6120.

  4. 4. What is the simple interest on a sum of ₹12,000 at 9% per annum for 3 years?

    • A. ₹2,880
    • B. ₹3,120
    • C. ₹3,360
    • D. ₹3,240 ✓

    Solution. SI = (12000 × 9 × 3) / 100 = ₹3,240.

  5. 5. Find the simple interest on ₹6,000 at 9% per annum for 4 years.

    • A. ₹2,000
    • B. ₹2,080
    • C. ₹2,240
    • D. ₹2,160 ✓

    Solution. SI = (P × R × T)/100 = (6,000 × 9 × 4)/100 = ₹2,160.

  6. 6. Find the simple interest on ₹24,000 at 6.5% per annum for 4 years.

    • A. ₹6,000
    • B. ₹6,360
    • C. ₹6,120
    • D. ₹6,240 ✓

    Solution. SI = (24000 × 6.5 × 4) / 100 = ₹6,240.

Exams that set Simple Interest

12 categories, led by Management, Banking, SSC.

Also set by AFCAT, ATMA, CA Foundation, CAT, CDS, CMA Foundation, CMAT, DSSSB TGT, HTET, IBPS Clerk, IBPS PO, IBPS RRB Office Assistant, IBPS RRB Officer Scale I, IBPS SO, IBSAT, IMU-CET, INET, IPMAT Rohtak, JAIN JET, JIPMAT, Kerala MCA, KMAT Karnataka, KSDAT, KVS PRT, MAH MBA CET, MAH UG CET, MAT, MH CET Law, MICAT, MPPSC SSE, NABARD Grade A, NCHM JEE, NIFT, NMAT, OPSC OCS, RBI Assistant, RBI Grade B, RPF Constable, RPF Sub-Inspector, RRB Group D, RRB Junior Engineer, RRB NTPC, SBI Clerk, SBI PO, SEBI Grade A, SIDBI Grade A & B, SNAP, SRMJEEE, SSC CGL, SSC CHSL, SSC CPO, SSC GD Constable, SSC MTS, SSC Selection Post, TANCET MBA, UPPSC PCS, UPSC CSE. Browse all exams.

Simple Interest: frequently asked questions

How many simple interest questions are there?

142, from the 58 exams here whose syllabus sets the topic. 34% are graded easy and 4% hard, which makes simple interest one of the more tractable topics in this section, against a 17% average.

Which exams ask simple interest questions?

58 of the exams on this site, weighted towards Management (14), Banking (12), SSC (6). Every question in this pool comes from one of their own mock tests, so the list below is the honest answer to whether the topic is worth your time.

Is simple interest hard?

4% of these 142 questions are graded hard and 34% easy, making it one of the more tractable topics in this section, against a 17% average.

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